Insurance Councils can decide on funding for earthquake damage
If there is damage to buildings after a severe earthquake, homeowners should pay for it jointly and severally. Parliament can now decide on the proposal for financing earthquake damage.
13.12.2024, 11:10
SDA
Specifically, it is envisaged that the federal government will be able to levy an earmarked contribution from homeowners for the repair of damage. This would amount to a maximum of 0.7 percent of the building insurance sum. This would make up to CHF 22 billion available to repair the damage.
This corresponds to the amount of damage to be expected in the event of an earthquake occurring every 500 years, the Federal Council wrote in its dispatch published on Friday.
Parliament had obliged the Federal Council to create the basis for financing building damage in the event of an earthquake by means of a contingent liability. The proposal met with mixed reactions during the consultation process.
